Parisi Gray Wealth Management Acquires 211 Shares of Tesla, Inc. (NASDAQ:TSLA)

Parisi Gray Wealth Management grew its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.0% in the 4th quarter, Holdings Channel.com reports. The fund owned 10,989 shares of the electric vehicle producer’s stock after purchasing an additional 211 shares during the period. Tesla makes up about 1.4% of Parisi Gray Wealth Management’s holdings, making the stock its 20th biggest holding. Parisi Gray Wealth Management’s holdings in Tesla were worth $4,438,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of TSLA. Transcendent Capital Group LLC acquired a new position in Tesla during the 3rd quarter worth about $29,000. Clean Yield Group raised its position in shares of Tesla by 60.0% during the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after acquiring an additional 48 shares during the last quarter. Abich Financial Wealth Management LLC lifted its stake in shares of Tesla by 168.8% in the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after acquiring an additional 81 shares during the period. Peterson Financial Group Inc. bought a new stake in Tesla in the third quarter valued at approximately $35,000. Finally, M&R Capital Management Inc. increased its position in Tesla by 263.2% during the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock valued at $36,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on TSLA shares. Barclays upped their price objective on shares of Tesla from $220.00 to $235.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. Sanford C. Bernstein reiterated an “underperform” rating and set a $120.00 price target on shares of Tesla in a report on Thursday, October 3rd. Bank of America downgraded Tesla from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $400.00 to $490.00 in a research note on Tuesday, January 7th. Truist Financial reaffirmed a “hold” rating and set a $360.00 target price on shares of Tesla in a research note on Thursday, January 2nd. Finally, Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research note on Thursday, October 24th. Nine research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $296.60.

Insiders Place Their Bets

In other Tesla news, Director Kimbal Musk sold 60,500 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $250.23, for a total value of $15,138,915.00. Following the completion of the sale, the director now directly owns 1,563,220 shares of the company’s stock, valued at $391,164,540.60. This trade represents a 3.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $374.21, for a total value of $975,191.26. Following the transaction, the chief financial officer now directly owns 108,965 shares in the company, valued at $40,775,792.65. This represents a 2.34 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 621,886 shares of company stock valued at $213,451,751. Company insiders own 20.70% of the company’s stock.

Tesla Stock Performance

Shares of TSLA opened at $403.31 on Tuesday. The stock has a 50 day moving average of $379.81 and a 200 day moving average of $283.29. The company has a market capitalization of $1.29 trillion, a price-to-earnings ratio of 110.50, a PEG ratio of 10.80 and a beta of 2.30. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. The company had revenue of $25.18 billion for the quarter, compared to analysts’ expectations of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.53 EPS. As a group, sell-side analysts forecast that Tesla, Inc. will post 1.99 earnings per share for the current year.

Tesla Company Profile

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.